On January 30, China’s prosperity drove mixed, Southern S&P 500ETFwait for morefundReleased for the first time, becoming the first batch after the Spring FestivalXinfa Fund。
Choice dataIt shows that compared with previous years, the number of IPO funds on the first A-share trading day of this year’s Spring Festival has decreased slightly.However, in this week’s IPO funds, QDII funds appeared frequently, and the majorfund companyThe signs of QDII fund development in the beginning of the year are quite obvious.
More than 20 funds launched this week
On January 30th, China’s prosperity was driven mixed, Xingye Jufu’s one-year holding period was mixed, CCB Ning’an’s 30-day holding period short-term bond bonds, Harvest Global Industrial Upgrade Stock Initiation (QDII), Southern S&P 500 ETF (QDII ) and many other funds were issued for the first time. Except for the Southern S&P 500 ETF (QDII), all other funds issue A and C fund shares at the same time.
Among the IPO funds on January 30, the active equity funds include China’s Prosperity-Driven Hybrid and Harvest Global Industrial Upgrade Stock Initiation (QDII). According to the prospectus, the proportion of stock investment driven by China’s prosperity is 60%-95%.Hong Kong Stock ConnectThe underlying stock investment ratio does not exceed 50% of the stock assets. In the investment of Harvest Global Industrial Upgrade Stock Initiative (QDII), stocks and depositary receipts will account for no less than 80%, and assets invested in domestic and overseas markets will account for no less than 20%.
ChoiceData show that this week the market will usher in the first issuance of more than 20 funds (different shares are calculated separately, the same below). Judging from the proposed fund managers, fund managers with small and medium-sized management scales seem to be one of the main targets for newly issued funds in the first week after the Spring Festival this year. Many fund managers manage funds with a size of less than 5 billion yuan.
Love the first trading day
According to the statistics of Choice, domestic public funds seem to love to issue funds on the first trading day of the new year.
In recent years, whether it is the Lunar New Year or the Gregorian New Year, the number of IPO funds on the first trading day is relatively large. For example, on the first trading day after New Year’s Day in 2023, the number of IPO funds in the market reached 35, which is the highest number of IPO funds in a single day within a month. In the past five years, except for the Spring Festival in 2019 and the Spring Festival in 2023, the number of IPO funds on the first trading day of the new year in other years has also been 10 or more.
One of the reasons why the industry likes to issue funds on the first trading day of the new year is that most people in the market before the festival are not in the mood to trade, and the issuance is difficult to attract more feedback. Moreover, if a new fund is issued before the festival, the fundraising period is blocked. Holiday intervals can easily affect the release rhythm. On the first trading day after the festival, the enthusiasm for trading in the market is generally high, so the fund’s first launch also wants to have a “good start”.
However, compared with previous years, the enthusiasm for fund IPOs on the first A-share trading day after the Spring Festival this year seems to have weakened. The number of IPO funds on that day has nearly halved compared with the same period last year, which is basically the same as the number of IPO funds on the first trading day after the Spring Festival in 2019.
In an environment where investors are generally optimistic about the market in 2023, why did the first day after the Spring FestivalFund issuanceBut a little cold? According to industry insiders, the decrease in the number of newly issued funds after the Spring Festival this year may be due to the slowdown in the approval of new funds. It usually takes about 3 to 6 months from product reporting to approval. Judging from the speed of approval, the approval of this product seems to have slowed down.
QDII funds are gaining momentum
Judging from the types of funds that were first issued in the first week after the Spring Festival, the signs of QDII funds’ strength are quite obvious.
According to Choice data, this week’s initial funds includeHybrid, bond type, stock type, alternative investment, QDII and other types. Among them, the number of QDII funds accounted for nearly 30%, and QDII funds were launched in the first three trading days, while there were almost no QDII funds in the same period in previous years.
Among the QDII funds launched this week, except Harvest Global Industrial Upgrade, the rest of the QDII funds mainly invest in the US market, namely Southern S&P 500 ETF, China UniversalNasdaq100ETF, WarburgNasdaqFeatured.
Harvest Global Industrial Upgrading’s proposed fund manager Liu Jie is the first to manage QDII funds, HuabaoNasdaqYang Yang and Zhou Jing, the proposed fund managers, managed too many QDII funds before. Among them, Zhou Jing can be regarded as a veteran QDII fund manager. He first managed QDII funds in 2013 and has been managing QDII funds for nearly ten years.
It is worth noting that QDII funds have developed strongly in recent years. According to the data, as of the end of 2022, the share of QDII funds in the whole market exceeded 370 billion shares, a record high. At the same time, a number of public offering fund companies have also successively entered the QDII fund camp. Since 2022,Baoying FundYongying Fund, Industrial Securities Global Fund,Morgan StanleyHuaxin Fund and other newly obtained QDII qualification approval.
(Original title: The first batch of newly issued funds released after the holiday QDII products are eye-catching)
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